ADJUSTING GENERAL DAMAGES VALUES USING EQUALIZATION VALUES
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Accused Products
Abstract
A selection is made from a defined list of one or more equalization criteria. Based on the selected equalization criteria, equalization values are derived from a set of closed claim data. During processing of open claims, bodily injury data for the open claims are entered into the system. For one or more of the open claims, precedent claims that match the open claim are identified based on characteristics of the open claim. A value for one or more of the matching precedent claims is adjusted using the previously determined equalization values. An amount for use in settling the open claim is determined based on the adjusted value.
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Citations
94 Claims
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1-72. -72. (canceled)
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73. A computer-implemented method for determining amounts for use in settling insurance claims, comprising:
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receiving a selection of one or more equalization criteria from a defined list; automatically determining on an insurance claims processing system equalization values from a set of closed claim data based on the selected equalization criteria; for at least one open claim, providing bodily injury data for the open claim; identifying one or more precedent claims that match the open claim based on one or more characteristics of the open claim; automatically adjusting on the insurance claims processing system a value for one or more of the matching precedent claims using one or more of the equalization values; and determining an amount for the open claim based at least in part on at least one adjusted value. - View Dependent Claims (74, 75, 76, 77, 78, 79, 80, 81, 82, 83, 84, 86, 87, 88, 89, 90, 91)
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85. (canceled)
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92. A system, comprising:
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a processor; a memory coupled to the processor and configured to store program instructions executable by the processor to implement; receiving a selection by a user of one or more equalization criteria from a defined list; determining equalization values from a set of closed claim data based on the selected equalization criteria; and for at least one open claim; providing bodily injury data for the open claim; identifying one or more precedent claims that match an open claim based on one or more characteristics of the open claim; adjusting a value for one or more of the matching precedent claims using one or more of the equalization values; and determining an amount for the open claim based at least in part on at least one adjusted value.
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93. A tangible, computer readable medium comprising program instructions, wherein the program instructions are computer-executable to implement:
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receiving a selection by a user of one or more equalization criteria from a defined list; determining equalization values from a set of closed claim data based on the selected equalization criteria; for at least one open claim; providing bodily injury data for the open claim; identifying one or more precedent claims that match an open claim based on one or more characteristics of the open claim; adjusting a value for one or more of the matching precedent claims using one or more of the equalization values; and determining an amount for the open claim based at least in part on at least one adjusted value.
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94-168. -168. (canceled)
Specification